The global x ray imaging market was valued at $8,897.3 million in 2015, and it is expected to grow at a CAGR of 4.9% during 2016-2022. Based on portability of x-ray imaging devices, the portable x-ray segment is expected to witness the faster growth, CAGR of 7.2%, during the forecast period.
The global x-ray imaging market is growing at a significant rate, due to increasing healthcare expenditure, and growing geriatric population. The increasing prevalence of chronic diseases and improving healthcare infrastructure in developing countries are also driving the growth of the global x-ray imaging market.
X-rays are fragments of natural electromagnetic spectrum. Medical x-rays are used to generate images of tissues and structure inside the body. It is produced artificially by decelerating high-velocity electrons, with the help of X-ray tube. The x-rays when passed through the body are made to strike through a photographic film, which results in formation of the image of the area. The areas of the film exposed by x-ray are dark, whereas the unexposed areas are transparent. Now-a-days an X-ray image can also be stored in a digital form on a computer. The factors, such as stringent regulatory requirements for the approval of x-ray imaging devices and increasing risk of cancer, due to exposure to radiation are inhibiting the growth of the global market.
Geographically, North America dominated the global market of x-ray imaging in 2015; whereas the Asia-Pacific market is expected to witness the fastest growth at a CAGR of 5.7% during the forecast period.
Some of the key companies operating in the global x-ray imaging market include Siemens AG, Koninklijke Philips N.V., General Electric Company, Hitachi Ltd., Toshiba Corporation, Shimadzu Corporation, Carestream Health Inc., Hologic Inc., SAMSUNG, and Fujifilm Corporation.
News Courtesy: P&S Market Research